Trader Chris Dunn talks Bitcoin and inflation on the latest Crypto Trading Secrets podcast

Cointelegraph has launched Episode 8 of its Crypto Trading Secrets podcast, that includes an interview with dealer, investor, podcaster and YouTuber Chris Dunn, who touts expertise in mainstream markets in addition to about 10 years of exercise within the crypto area. The dealer and investor answered questions requested by host Benjamin Pirus in the course of the episode’s March 14 recording, giving his opinions on the function Bitcoin (BTC) performs as an asset and why he thinks persons are prepared to purchase the coin, plus way more.

Dunn talked about that he thinks COVID-19 obtained mainstream, non-crypto of us to ponder the USA cash system, together with questioning how the federal government can create trillions of {dollars} and whether or not or to not belief the U.S. greenback.

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“Then type of the second factor is, okay, we’ve obtained some financial institution failures occurring proper now. We’ve obtained inflation going by the roof, and persons are getting squeezed,” Dunn mentioned.

Over the course of 2022, inflation hit important ranges throughout the globe. In March 2023, Signature Financial institution, Silicon Valley Financial institution and Silvergate Financial institution all went under. These three gamers all had involvement within the crypto sector. Dunn defined:

“Millennials and youthful are going, ‘Hey, I make a superb earnings, I work actually exhausting, however why can’t I afford the common home in my city or metropolis?’ and ‘What occurred there, and what can I do to construct my wealth? How can I beat this inflation monster?’”

“That’s the place Bitcoin is available in. At the least up to now, it’s confirmed to simply actually have an ideal compound annual progress fee,” Dunn mentioned. “It’s outpaced inflation actually, rather well,” he continued. “Will that occur into the longer term? That’s but to be seen, nevertheless it’s confirmed itself up to now over the previous decade-plus to be an ideal retailer of wealth, even making an allowance for the depths of the bear markets.” He added: 

“Adjusted for volatility, Bitcoin remains to be one of many best-performing property on the planet. So, I feel persons are waking as much as the concept possibly fiat isn’t the perfect type of cash and possibly there’s a higher strategy to retailer our wealth.”

Since its launch in 2009, Bitcoin has elevated in worth from lower than $1,000 to greater than $65,000 per coin at its peak, nevertheless it has additionally suffered dramatic drawdowns. In 2017, BTC elevated in worth from round $1,000 all the way in which to almost $20,000 — after which plummeted down under $5,000 in 2018. It then surged previous $65,000 in 2021 earlier than falling again under $20,000 in 2022, in keeping with Cointelegraph’s Bitcoin worth index. This sort of turbulence makes the query of whether or not or not it’s a retailer of worth a degree of argument, given that purchasing on the fallacious time may result in important losses.

Dunn additionally gave his tackle a lot of different questions in the course of the episode and talked about his background.